Quote:
Originally Posted by jIM_Ohio
If our payment was reduced (5.75% is our current rate), that difference would become disposable income.
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Quote:
Originally Posted by creditcardfree
I would probably refinance if that were to happen, but then I would continue with the same payment and pay off home early. I wouldn't be spending the extra income in the economy.
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I'm with ccf. I'd refi (I'm at 5.875) but we wouldn't go out and spend the extra money. I'd probably split it between paying extra on the loan and boosting other savings. Most likely, we wouldn't spend any of it so it wouldn't do the economy much good. Kind of like that stimulus check. Lots of folks stashed it in savings or used it to pay down debt rather than going out and spending it.
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Steve
* Despite the high cost of living, it remains very popular.
* Why should I pay for my daughter's education when she already knows everything?
* There are no shortcuts to anywhere worth going.
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